Paramount Gold Nevada (PZG) 10-K 17 Sep 21 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2021	Sep. 15, 2021	Dec. 31, 2020
Cover [Abstract]
Entity Registrant Name	Paramount Gold Nevada Corp.
Entity Central Index Key	0001629210
Current Fiscal Year End Date	--06-30
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2021
Trading Symbol	PZG
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Voluntary Filers	No
Entity Shell Company	false
Entity File Number	001-36908
Title of 12(b) Security	Common Stock
Security Exchange Name	NYSEAMER
Entity Tax Identification Number	98-0138393
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	665 Anderson Street
Entity Address, City or Town	Winnemucca
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89445
City Area Code	775
Local Phone Number	625-3600
Document Annual Report	true
Document Transition Report	false
Entity Common Stock Shares Outstanding		40,512,735
Entity Public Float			$ 40,466,768
ICFR Auditor Attestation Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Current Assets
Cash and cash equivalents	$ 3,113,064	$ 5,434,081
Prepaid expenses and deposits	1,152,396	442,596
Total Current Assets	4,265,460	5,876,677
Non-Current Assets
Mineral properties (Note 7)	49,197,704	47,333,313
Property and equipment	5,959	8,467
Reclamation bond (Note 8)	533,703	695,041
Total Non-Current Assets	49,737,366	48,036,821
Total Assets	54,002,826	53,913,498
Current Liabilities
Accounts payable and accrued liabilities	638,950	925,260
Reclamation and environmental obligation, current portion (Note 8)	310,022	154,231
Total Current Liabilities	948,972	1,079,491
Non-Current Liabilities
Convertible debt (Note 6)	4,161,502	5,256,228
Promissory note (Note 6)		35,628
Reclamation and environmental obligation, non-current portion (Note 8)	1,539,622	460,939
Total Non-Current Liabilities	5,701,124	5,752,795
Total Liabilities	6,650,096	6,832,286
Stockholders' Equity
Common stock, par value $0.01, 200,000,000 authorized shares, 38,154,109 issued and outstanding at June 30, 2021 and 50,000,000 authorized shares, 32,958,404 issued and outstanding at June 30, 2020 (Note 5)	381,542	329,584
Additional paid in capital	107,005,135	100,881,957
Deficit	(60,033,947)	(54,130,329)
Total Stockholders' Equity	47,352,730	47,081,212
Total Liabilities and Stockholders' Equity	$ 54,002,826	$ 53,913,498

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2021	Jun. 30, 2020
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	50,000,000
Common stock, shares issued	38,154,109	32,958,404
Common stock, shares outstanding	38,154,109	32,958,404

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Income
Other income (Note 9)	$ 330,259	$ 728,910
Total Income	330,259	728,910
Expenses
Exploration (Note 10)	2,816,685	4,201,138
Land holding costs (Note 10)	540,401	592,978
Professional fees	174,039	166,894
Salaries and benefits	1,373,451	989,602
Directors compensation	158,694	92,054
General and administrative	483,608	495,628
Insurance	220,480	150,911
Depreciation	2,508	2,555
Accretion (Note 8)	60,040	94,591
Total Expenses	5,829,906	6,786,351
Net Loss before other items	5,499,647	6,057,441
Other items
Interest income	(2,293)	(16,509)
Interest and service charges	442,211	389,209
Gain on forgiveness of promissory note	(35,947)
Net Loss before Income Taxes	5,903,618	6,430,141
Net Loss and Comprehensive Loss	$ 5,903,618	$ 6,430,141
Loss per Common share
Basic	$ 0.17	$ 0.23
Diluted	$ 0.17	$ 0.23
Weighted Average Number of Common Shares Used in Per Share Calculations
Basic	35,533,269	27,583,566
Diluted	35,533,269	27,583,566

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Total	Common Stock	Additional Paid-In Capital	Deficit
Balance at Jun. 30, 2019	$ 47,329,742	$ 265,200	$ 94,764,730	$ (47,700,188)
Balance (in shares) at Jun. 30, 2019		26,519,954
Stock based compensation	203,192		203,192
Capital issued for services	976,144	$ 10,968	965,176
Capital issued for services (in shares)		1,096,791
Capital issued for payment of interest	119,309	$ 1,612	117,697
Capital issued for payment of interest (in shares)		161,217
Capital issued for financing	4,882,966	$ 51,804	4,831,162
Capital issued for financing (in shares)		5,180,442
Net loss and comprehensive loss	(6,430,141)			(6,430,141)
Balance at Jun. 30, 2020	$ 47,081,212	$ 329,584	100,881,957	(54,130,329)
Balance (in shares) at Jun. 30, 2020	32,958,404	32,958,404
Stock based compensation	$ 436,777		436,777
Capital issued for purchase of mineral properties	277,941	$ 2,574	275,367
Capital issued for purchase of mineral properties (in shares)		257,353
Conversion of convertible notes to shares	1,157,629	$ 12,000	1,145,629
Conversion of convertible notes to shares (in shares)		1,200,000
Capital issued for services	181,458	$ 1,668	179,790
Capital issued for services (in shares)		166,792
Capital issued for payment of interest	398,777	$ 3,624	395,153
Capital issued for payment of interest (in shares)		362,427
Capital issued for financing	3,722,554	$ 32,092	3,690,462
Capital issued for financing (in shares)		3,209,133
Net loss and comprehensive loss	(5,903,618)			(5,903,618)
Balance at Jun. 30, 2021	$ 47,352,730	$ 381,542	$ 107,005,135	$ (60,033,947)
Balance (in shares) at Jun. 30, 2021	38,154,109	38,154,109

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement Of Cash Flows [Abstract]
Net loss and comprehensive loss	$ (5,903,618)	$ (6,430,141)
Adjustment for:
Depreciation	2,508	2,555
Share based payments	181,458	976,144
Stock based compensation	436,777	203,192
Amortization of debt issuance costs	62,903	54,421
Interest expense	359,253	324,160
Accretion expense (Note 8)	60,040	94,591
Gain upon forgiveness of promissory note	(35,947)
Changes in reclamation bonds and accounts	(163,178)	(16,487)
(Increase) decrease in prepaid expenses	(709,800)	(93,825)
Increase (decrease) in accounts payable and accrued liabilities	(246,467)	(259,901)
Cash used in operating activities	(5,956,071)	(5,145,291)
Purchase of equipment		(4,719)
Purchase of mineral properties	(87,500)
Cash provided by (used in) investing activities	(87,500)	(4,719)
Capital issued for financing (Note 5)	3,722,554	4,882,966
Convertible debt issued (Note 6)		5,201,807
Promissory note (Note 6)		35,628
Cash provided by financing activities	3,722,554	10,120,401
Change in cash during year	(2,321,017)	4,970,391
Cash at beginning of year	5,434,081	463,690
Cash at end of year	$ 3,113,064	$ 5,434,081

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	Note 1. Description of Business and Summary of Significant Accounting Policies Paramount Gold Nevada Corp. (the “Company” or “Paramount”), incorporated under the General Corporation Law of the State of Nevada, and its wholly-owned subsidiaries are engaged in the acquisition, exploration and development of precious metal properties. The Company’s wholly owned subsidiaries include New Sleeper Gold LLC, Sleeper Mining Company, LLC, and Calico Resources USA Corp (“Calico”). The Company is in the process of exploring its mineral properties in Nevada and Oregon, United States. The Company’s activities are subject to significant risks and uncertainties, including the risk of failing to secure additional funding to advance its projects and the risks of determining whether these properties contain reserves that are economically recoverable. The Company’s shares of common stock trade on the NYSE AMERICAN LLC under the symbol “PZG”. Basis of Presentation and Preparation The consolidated financial statements are prepared by management in accordance with U.S. generally accepted accounting principles (‘U.S. GAAP”) and are presented in US dollars. The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions are eliminated in consolidation. The Company faces various risks related to the COVID-19 global pandemic. The Company’s primary goal during the COVID-19 pandemic is to safeguard the health of our employees, suppliers and the communities where we operate while minimizing business interruption. To date, COVID-19 pandemic has not had a material impact on our business however because of the highly uncertain and dynamic nature of events relating to the COVID-19 pandemic, it is not currently possible to predict any future impact of the COVID-19 pandemic, but these impacts could have a material adverse effect on the business, financial position, results of operations and/or cash flows. We will continue to monitor the COVID-19 situation closely. The results of operations for the year ending June 30, 2021 is not necessarily indicative of the operating results expected for any future period. Foreign Currency Translation and Transactions The Company’s functional and reporting currency is the United States dollar. Foreign denominated monetary assets and liabilities are translated into their U.S. dollar equivalents using foreign exchange rates which prevailed at the balance sheet date. Income and expenses are translated at average rates of exchange during the period. Related translation adjustments as well as gains or losses resulting from foreign currency transactions are reported as part of operating expenses on the statement of operations and comprehensive loss. Use of Estimates The preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The recoverability of the costs incurred for the exploration and development of precious mineral properties is dependent on the ability of the Company to obtain the necessary financing to advance the projects to production, upon future profitable production or from proceeds from sale of properties or production royalties. The Company will continue to incur losses and have negative cash flows from operating activities and as such we will require additional capital to fund exploration and development programs, future property acquisitions and for general corporate purposes. If the Company is unable to obtain additional funding, we may be unable to continue operations, and amounts realized for assets may be less than amounts reflected in these consolidated financial statements. These consolidated financial statements have been prepared on the accounting principles applicable to a going concern, which assumes that the Company will realize its assets and discharge its liabilities in the normal course of business. In assessing whether the going concern assumption is appropriate, management takes into account all available information about the future, which is at least twelve months after the date that the financial statements are issued. Management has carried out an assessment of the going concern assumption and, after considering subsequent events, has concluded that the cash position of the Company is sufficient to finance continued operations for the twelve-month period after the issuance of these financial statements. Significant estimates made by management in the accompanying consolidated financial statements include the adequacy of the Company’s reclamation and environmental obligation, share based compensation, valuation of deferred tax asset, and assessment of impairment of mineral properties. Cash and Cash Equivalents All highly liquid investments with maturities of three months or less at the date of purchase are classified as cash and cash equivalents. The carrying amount of these securities approximates fair value because of the short-term maturity of these instruments. Concentration of Credit Risk Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of cash and cash equivalents. The Company maintains cash in accounts which may, at times, exceed federally insured limits. At June 30, 2021 and 2020, the Company had $2.81 million and $5.13 million, respectively, of balances in excess of federally insured limits. The Company deposits its cash with financial institutions which it believes have sufficient credit quality to minimize the risk of loss. Fair Value Measurements The Company has adopted FASB ASC 820, Fair Value Measurements and Disclosures, which defines fair value, establishes guidelines for measuring fair value and expands disclosures regarding fair value measurements. The Company applies fair value accounting for all financial assets and liabilities and non – financial assets and liabilities that are recognized or disclosed at fair value in the consolidated financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company has adopted FASB ASC 825, Financial Instruments, which allows companies to choose to measure eligible financial instruments and certain other items at fair value that are not required to be measured at fair value. The Company has not elected the fair value option for any eligible financial instruments. Stock Based Compensation The Company has adopted the provisions of FASB ASC 718, “ Stock Compensation For options with performance conditions, the Company accrues compensation if it is probable that the performance condition will be achieved and recognizes the compensation cost over the requisite service period. The requisite service period for options with performance conditions is estimated based on the analysis of the terms of the award and the specific performance conditions. The Company shall recognize the effect of forfeited awards in compensation cost when they occur. New shares of the Company’s common stock will be issued for any options exercised. Mineral Properties Mineral property acquisition costs are capitalized when incurred and will be amortized using the units-of-production method over the estimated life of the reserve following the commencement of production. If a mineral property is subsequently abandoned or impaired, any capitalized costs will be expensed in the period of abandonment or impairment. Acquisition costs include cash consideration and the fair market value of shares issued on the acquisition of mineral properties. Net proceeds from the sale of royalties are deducted from the carrying value of the mineral properties. Exploration Costs Exploration costs, which include maintenance, development and exploration of mineral claims, are expensed as incurred. When it is determined that a mineral deposit can be economically developed as a result of establishing proven and probable reserves, the costs incurred after such determination will be capitalized until the commencement of production and amortized over their useful lives. To date, the Company has not established the commercial feasibility of its exploration prospects; therefore, all exploration costs are being expensed. Property and Equipment Equipment is recorded at cost less accumulated depreciation. All equipment is depreciated over its estimated useful life at the following annual rates: Computer equipment 30% declining balance Equipment 20% declining balance Impairment of Long-Lived Assets In accordance with ASC 360, “Property, Plant, and Equipment”, the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. An impairment loss shall be recognized only if the carrying amount of a long-lived asset (asset group) is not recoverable and exceeds its fair value. The carrying amount of a long-lived asset (asset group) is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset (asset group). That assessment shall be based on the carrying amount of the asset (asset group) at the date it is tested for recoverability, whether in use or under development. An impairment loss shall be measured as the amount by which the carrying amount of a long-lived asset (asset group) exceeds its fair value. Reclamation and Environmental Obligation The Company follows the provisions of ASC 410, “Asset Retirement and Environmental Obligations”, which establishes the standards for the initial measurement and subsequent accounting for obligations associated with the sale, abandonment, or other disposal of long-lived tangible assets arising from the acquisition, construction or development and for normal operations of such assets. The fair value of a liability for an asset retirement obligation will be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. The fair value of the liability is added to the carrying amount of the associated asset. An accretion cost, representing the increase over time in the present value of the liability, is recorded each period. As reclamation work is performed or liabilities are otherwise settled, the recorded amount of the liability is reduced. Future reclamation costs are accrued based on management’s best estimate at the end of each period of the discounted costs expected to be incurred for the asset. Such costs include facilities removal, earthworks, revegetation and on-going monitoring. Changes in estimates are reflected prospectively in the period an estimate is revised. Net Loss per Share Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of shares outstanding during each period. Diluted loss per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the years ended June 30, 2021 and 2020, the shares of common stock equivalents related to outstanding stock options have not been included in the diluted per share calculation as they are anti-dilutive as the Company has recorded a net loss from continuing operations for each year. Leases The Company adopted ASU No. 2016-02 Leases effective July 1, 2019. The adoption of this guidance did not have a material effect on the Company’s consolidated financial position, results of operation, cash flows and related disclosures. The Company determines if an arrangement is, or contains, a lease at the inception date. Right-of-use (“ROU”) assets related to operating leases are included in Other assets, non-current Accrued liabilities and Other long-term liabilities Operating lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. We use our estimated incremental borrowing rate in determining the present value of lease payments. Variable components of the lease payments such as maintenance costs are expensed as incurred and not included in determining the present value. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense is recognized on a straight-line basis over the lease term. In the adoption of ASU No. 2016, the Company elected the short-term lease recognition exemption. Currently, the Company does not have any leases with terms greater than 12 months. Convertible Debt The Company reviews the terms of its convertible notes payable to determine whether to account for any portion of the proceeds towards the conversion feature. In general, when the convertible notes instrument has the following characteristics and terms no portion of the proceeds from the issuance shall be accounted for as attributable to the conversion feature: a) is convertible into common stock of the Company at a specified price at the option of holder; b) the debt is sold at a price or has value at issuance not significantly in excess of the face amount; c) an interest rate that is lower than the Company could establish for nonconvertible debt; d) an initial conversion price that is greater than the fair value of the common stock at time of issuance and; e) a conversion price that does not decrease except pursuant to antidilution provisions. When proceeds are not attributable to the conversion features of the debt, the Company records the entire amount as a liability. If the fair value option is not elected, the Company will reduce the initial carrying amount of the debt by any direct and incremental issuance costs paid to third parties that are associated with the convertible debt issuance. The Company also reviews the terms of its convertible notes payable to determine whether there are embedded derivatives, including the embedded conversion option, that are required to be bifurcated and accounted for as individual derivative financial instruments. In circumstances where convertible debt contains embedded derivatives that are required to be separated from the host contracts, the total proceeds received are first allocated to the fair value of the derivative financial instruments determined using the binomial model. The remaining proceeds, if any, are then allocated to the debenture cost contracts, usually resulting in those instruments being recorded at a discount from their principal amount. This discount is accreted over the expected life of the instruments to profit (loss) using the effective interest method. The debenture host contracts are subsequently recorded at amortized cost at each reporting date, using the effective interest method. The embedded derivatives are subsequently recorded at fair value at each reporting date, with changes in fair value recognized in profit (loss). As of June 30, 2021 and 2020, there were no embedded derivatives. Income Taxes Income taxes are determined using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. In addition, a valuation allowance is established to reduce any deferred tax asset for which it is determined that it is more likely than not that some portion of the deferred tax asset will not be realized. Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. The Company has adopted FASB ASC 740 “Income Taxes” as of its inception. Pursuant to FASB ASC 740 the Company is required to compute tax asset benefits for net operating losses carried forward. Potential benefits of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future periods; and accordingly is offset by a valuation allowance. FIN No.48 prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of tax positions taken in tax returns. To the extent interest and penalties may be assessed by taxing authorities on any underpayment of income tax, such amounts would be accrued and classified as a component of income tax expense in our Consolidated Statements of Operations and Comprehensive Loss. The Company elected this accounting policy, which is a continuation of our historical policy, in connection with our adoption of FIN 48.

Recent Accounting Guidance

Recent Accounting Guidance	12 Months Ended
	Jun. 30, 2021
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Recent Accounting Guidance	Note 2. Recent Accounting Guidance In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses. The changes will be effective for the Company’s fiscal year beginning July 1, 2020. Among other things, these amendments require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The adoption of ASU No. 2016-13 did not have a significant impact on the Company's consolidated financial position, results of operations, and cash flows. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement. These changes will be effective for the Company’s fiscal year beginning July 1, 2020. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted. The adoption of ASU No. 2018-13 did not have a significant impact on the Company's consolidated financial position, results of operations, cash flows and related disclosures. In November 26, 2019, the FASB issued ASU No. 2019-11, Codification Improvements to Topic 326, Financial Instruments – Credit Losses. The changes will be effective for the Company’s fiscal year beginning July 1, 2020. The adoption of ASU No. 2019-11 did not have a significant impact on the Company's consolidated financial position, results of operations, cash flows and related disclosures. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in ASC 740 and also clarifies and amends existing guidance to improve consistent application. This guidance is effective for public entities for fiscal years beginning after December 15, 2020, and for interim periods within those fiscal years. The Company is currently evaluating the impact of implementing these changes on the Company’s consolidated financial position, operating results and cash-flows. In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which addresses the complexity of its guidance for certain financial instruments with characteristics of liabilities and equity. ASU 2020-06 removes the accounting models that require beneficial conversion features or cash conversion features associated with convertible instruments to be recognized as a separate component of equity, adds certain disclosure requirements for convertible instruments, amends the guidance for the derivatives scope exception for contracts in an entity’s own equity and simplifies the diluted earnings per share calculation for certain situations. This ASU is effective for the Company beginning on January 1, 2024. The Company is currently evaluating the impact of implementing these changes on the Company’s consolidated financial position, operating results and cash-flows. In July 2021, the FASB issued ASU No. 2021-5, Leases. These changes will be effective for fiscal years beginning after December 15, 2021. The amendments affect lessors with lease contracts that have variable lease payments that do not depend on a reference index or a rate and would have resulted in the recognition of a selling loss at lease commencement if classified as sales-type or direct financing. The Company is currently evaluating the potential impact of implementing these changes on the Company’s consolidated financial position, results of operation, cash flows and related disclosures.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 3. Fair Value Measurements Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization with the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy under ASC 820 are described below: Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 Inputs that are both significant to the fair value measurement and unobservable. The following table sets forth the Company’s financial assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy. As required by ASC 820, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair Value at June 30, 2021 June 30, 2020 Assets Total Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 3,113,064 3,113,064 — — $ 5,434,081 The carrying values of accounts payable and accrued liabilities and convertible debt (Note 6) approximate fair value as of June 30, 2021 and 2020.

Non-Cash Transactions

Non-Cash Transactions	12 Months Ended
	Jun. 30, 2021
Nonmonetary Transactions [Abstract]
Non-Cash Transactions	Note 4. Non-Cash Transactions During the year-ended June 30, 2021, the Company issued 257,353 shares of its common stock with a fair value of $277,941 for the acquisition of mining claims. During the year-ended June 30, 2021, the Company issued 362,427 shares of Common Stock for payment of interest accrued and owing on its outstanding 2019 Convertible Notes with a fair value of $398,777. Additionally, 1,200,000 shares of Common Stock were issued upon the conversion of 1,200 of its outstanding 2019 Convertible Notes. The Company also issued 166,792 shares of Common Stock to Ausenco Engineering USA South Inc. in exchange for consulting services to complete the Grassy Mountain feasibility study valued at $181,458. During the comparative year-ended June 30, 2020, the Company issued 1,096,791 shares to Ausenco in exchange for services valued at $976,144 to complete a feasibility study at its Grassy Mountain Project.

Capital Stock

Capital Stock	12 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Capital Stock	Note 5. Capital Stock Authorized Capital Authorized capital stock consists of 200,000,000 shares of Common Stock with par value of $0.01 per common share (2020- 50,000,000 shares of Common Stock with par value $0.01 per common share). An increase to authorized capital stock was approved by the Company’s stockholders during the year-ended June 30, 2021. During the year-ended June 30, 2021, the Company issued 3,209,133 shares at an approximate average price of $1.21 through its at-the market offering. Share issuance costs related to this were $157,979. The Company also issued 362,427 shares for payment of interest accrued and owing (Note 4 and Note 6) with a fair value of $398,777. The Company also issued 1,200,000 shares upon the conversion of 1,200 of the 2019 Senior Secured Convertible Notes (Note 4 and Note 6). In addition, during the year-ended June 30, 2021, the Company issued 166,792 shares at a value of $1.09 per share of Common Stock to Ausenco in exchange for services to complete a feasibility study at its Grassy Mountain Project (Note 4). It also issued 257,353 shares for the purchase of a mineral property with a fair value of $$277,941 (Note 4 and 7). During the year-ended June 30, 2020, the Company issued 1,096,791 shares at a value of $0.89 per share to Ausenco in exchange for services to complete a feasibility study at its Grassy Mountain Project (Note 4) . During the year-ended June 30, 2020, the Company issued 4,807,700 shares at a price of $1.04 per share for gross proceeds of $5,000,008. Share issuance costs were $421,558 for net proceeds of $4,578,450. During the year ended June 30, 2020, the Company issued 372,742 shares at an average approximate price of $1.17 for gross proceeds of $436,783 through its at-the-market offering. Share issuance costs, including one-time transaction costs and commissions were $124,265 for net proceeds of $312,518. At June 30, 2021 there were 38,154,109 common shares issued and outstanding (June 30, 2020 – 32,958,404 common shares). Warrants A summary of warrants exercisable into common stock as of June 30, 2021, and changes during years-ended June 30, 2021 and 2020 are presented below: Warrants Weighted Average Exercise Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic ($) Outstanding at July 1, 2019 1,200,000 $ 1.40 1.03 — Issued — — — — Expired — — — — Exercised — — — — Outstanding at June 30, 2020 1,200,000 $ 1.40 0.03 — Issued — — — — Expired (1,200,000) 1.40 — — Exercised — — — — Outstanding at June 30, 2021 — $ — — — Stock Options and Stock Based Compensation Paramount’s 2015 and 2016 Stock Incentive and Compensation Plan, which is shareholder-approved, permits the grant of share options and shares to its employees for up to 2.169 million shares of common stock. Option awards are generally granted with an exercise price equal to the market price of Paramount’s stock at the date of grant and have contractual lives of 5 years. To better align the interests of its key executives, employee and directors with those of its shareholders a significant portion of those share option awards will vest contingent upon meeting certain stock price appreciation performance goals and other performance conditions. Option and share awards provide for accelerated vesting if there is a change in control (as defined in the employee share option plan).For the year-ended June 30, 2021, the Company granted 755,000 For the year-ended June 30, 2021, share-based compensation expense relating to service conditions options and performance conditions were $286,096 and $150,681, respectively (2020 - $73,509 and $129,683). The fair value for these options was calculated using the Black-Scholes option valuations method. The weighted average assumptions used for the fiscal years ending June 30, 2021 and 2020 were as follows: 2021 2020 Weighted average risk-free interest rate 0.22 % 1.60 % Weighted-average volatility 60.00 % 61.00 % Expected dividends 0.00 0.00 Weighted average expected term (years) 5 5 Weighted average fair value $ 0.57 $ 0.39 A summary of option activity under the Stock Incentive and Compensation Plan as of June 30, 2021 and 2020, and changes during the years ended June 30, 2021 and 2020 are presented below. Options Options Weighted Average Exercise Weighted-Average Remaining Contractual Aggregate Intrinsic ($) Outstanding at July 1, 2019 1,568,995 $ 1.50 1.95 $ — Granted 690,000 1.00 4.47 165,600 Exercised — — — — Forfeited or expired (1,015,000 ) 1.53 0.05 — Outstanding at June 30, 2020 1,243,995 $ 1.20 3.63 $ 165,600 Granted 755,000 1.13 4.44 — Exercised — — — — Forfeited or expired — — — — Outstanding at June 30, 2021 1,998,995 $ 1.17 $ 3.31 $ — Exercisable at June 30, 2021 964,997 $ 1.19 $ 3.08 $ — A summary of the status of Paramount’s non-vested options as of June 30, 2021 and 2020 and changes during the years ended June 30, 2021 and 2020 are presented below. Non-vested Options Options Weighted- Average Value Non-vested at July 1, 2019 340,660 $ 0.79 Granted 690,000 0.38 Vested (66,668 ) 0.74 Forfeited (20,000 ) 0.74 Nonvested at June 30, 2020 943,992 $ 0.51 Granted 755,000 0.56 Vested (664,994 ) 0.50 Forfeited — — Nonvested at June 30, 2021 1,033,998 $ 0.55 As of June 30, 2021 and 2020, there was $143,998 and $153,802 respectively of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the employee share option plan. That cost is expected to be recognized over a weighted-average period of 0.78 years (2020 – $1.05). The total fair value of shares vested during the years ended June 30, 2021 and 2020, was $332,835 and $202,121, respectively.

Debt

Debt	12 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt	Note 6. Debt Convertible Debt June 30, 2021 June 30, 2020 Current Non-Current Current Non-Current 2019 Secured Convertible Notes $ — $ 4,277,690 $ — $ 5,477,690 Less: unamortized discount and issuance costs — (116,188 ) — (221,462 ) $ — $ 4,161,502 $ — $ 5,256,228 In September 2019, the Company completed a private offering of 5,478 Senior Secured Convertible Notes (“2019 Convertible Notes”) at $975 per $1,000 face amount due in September 2023. Each 2019 Convertible Note will bear an interest rate of 7.5% per annum, payable semi-annually. The effective interest rate of the 2019 Convertible Notes is 9.24%. The principal amount of the 2019 Convertible Notes will be convertible at a price of $1.00 per share of Paramount common stock. Unamortized discount and issuance costs of $275,883 will be amortized as an additional interest expense over the four-year term of the 2019 Convertible Notes. During the year-ended June 30, 2021, the Company amortized $62,903 (2020-$54,421) of discount and issuance costs. At any point after the second anniversary of the issuance of the convertible notes, Paramount may force conversion if the share price of its common stock remains above $1.75 for 20 consecutive trading days. The convertible notes are secured by a lien on all assets of the Company and the Company is required to maintain a working capital balance of $250,000. At June 30, 2021, the working capital covenant was met by the Company. During the year-ended June 30, 2021, a total of 1,200 notes were converted in 1,200,000 shares of Common Stock (2020 – nil). Also during the year-ended June 30, 2021, the Company recorded an interest expense of $359,253 (2020 - $324,160). On May 5, 2020, the Company was granted a loan (the “PPP Loan”) from Wells Fargo Bank, N.A. in the amount of $35,628 pursuant to the Paycheck Protection Program (the “PPP”) under Division A, Title I of the CARES Act, which was enacted March 27, 2020. The PPP Loan which was in the form of a Promissory Note matures on May 3, 2022 and bears interest at a rate of 0.98% per annum, payable monthly commencing on November 1, 2020. The Note many be prepaid by the Company at any time prior to maturity with no prepayment penalties. Under the terms of the PPP, certain amounts of the PPP Loan may be forgiven if they are used for qualifying expenses as described in the CARES Act. During the year-ended June 30, 2021, the PPP Loan and accrued interest was forgiven and a gain of $35,947 was recorded on the Company’s Consolidated Statements of Operation and Comprehensive Loss.

Mineral Properties

Mineral Properties	12 Months Ended
	Jun. 30, 2021
Mineral Industries Disclosures [Abstract]
Mineral Properties	Note 7. Mineral Properties The Company has capitalized acquisition costs on mineral properties as follows: June 30, 2021 June 30, 2020 Sleeper $ 26,011,976 $ 24,147,585 Grassy Mountain 23,185,728 23,185,728 $ 49,197,704 $ 47,333,313 Sleeper: Sleeper is located in Humbolt County, Nevada approximately 26 miles northwest of the town of Winnemucca. The Sleeper Gold Mine consists of 2,322 unpatented mining claims totaling approximately 38,300 acres. During the year-ended June 30, 2021, the Company recorded an increase in reclamation and environmental obligation of $1,498,950 (2020 - $278,181) (Note 8) for the Sleeper Gold Project. Also, during the year-ended June 30, 2021, the Company purchased 152 unpatented lode mining claims by issuing 257,353 shares of common stock for a fair value of $277,941 and cash payment of $87,500 for a total consideration of $365,441. These claims have been included as part of the Sleeper Gold Project. Grassy Mountain: The Grassy Mountain Project is located in Malheur County, Oregon, approximately 22 miles south of Vale, Oregon, and roughly 70 miles west of Boise, Idaho. It consists of 442 federal mining claims, 3 patented lode claims, and various leased fee land surface and surface/mineral rights, all totaling approximately 9,300 acres

Reclamation and Environmental O

Reclamation and Environmental Obligation	12 Months Ended
	Jun. 30, 2021
Environmental Remediation Obligations [Abstract]
Reclamation and Environmental Obligation	Note 8. Reclamation and Environmental Obligation: Reclamation and environmental costs are based principally on legal requirements. Management estimates costs associated with reclamation of mineral properties and properties under mine closure. On an ongoing basis the Company evaluates its estimates and assumptions; however, actual amounts could differ from those based on estimates and assumptions. The Company has posted several cash bonds as financial security to satisfy reclamation requirements. The balance of posted cash reclamation bonds at June 30, 2021 is $533,703 (June 30, 2020 - $695,041). Paramount is responsible for managing the reclamation activities from the previous mine operations at the Sleeper Gold Mine as directed by the BLM and the Nevada State Department of Environmental Protection (“NDEP”). Paramount has estimated the undiscounted reclamation costs for existing disturbances at the Sleeper Gold Project required by the BLM to be $3,557,944. These costs are expected to be incurred between the years calendar 2021 and 2060. Paramount has also estimated undiscounted reclamation cost as required by the NDEP to be $1,470,000. These costs include on-going monitoring and new requests from the NDEP to convert three processing ponds from the historical operations to evaporation cell ponds by 2023. These costs are expected to be incurred between 2021 and 2039. The sum of expected costs by year are discounted using the Company’s credit adjusted risk free interest rate from the time it expects to pay the retirement to the time it incurs the obligation. The asset retirement obligation for the Sleeper Gold Project recorded on the balance sheet is equal to the present value of the estimated reclamation costs as required by both the BLM and NDEP. The following variables were used in the calculation for the fiscal years ending June 30, 2021 and 2020: 2021 2020 Weighted average credit adjusted risk free rate 9.89 % 9.76 % Weighted-average inflation rate 2.31 % 1.60 % Changes to the Company’s asset retirement obligation for the Sleeper Gold Mine for the year ended June 30, 2021 are as follows: June 30, 2021 June 30, 2020 Balance at beginning of year $ 615,170 $ 965,677 Accretion 60,040 94,591 Additions and changes in estimates 1,498,950 278,181 Settlements (324,516 ) (723,279 ) Balance at end of year $ 1,849,644 $ 615,170 The balance of the reclamation and environmental obligation of $1,849,644 (2020 - $615,170) is comprised of a current portion of $310,022 (2020 - $154,231) and a non-current portion of $1,539,622 (2020 - $460,939).

Other Income

Other Income	12 Months Ended
	Jun. 30, 2021
Other Income [Abstract]
Other Income	Note 9. Other Income The Company’s other income details were as follows: Year Ended Year Ended 2021 2020 Re-imbursement of reclamation costs $ 324,516 $ 723,279 Leasing of water rights to third party 5,743 5,631 Total $ 330,259 $ 728,910

Segmented Information

Segmented Information	12 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Segmented Information	Note 10. Segmented Information Segmented information has been compiled based on the material mineral properties in which the Company performs exploration activities. Expenses and mineral property carrying values by material project for the year ended June 30, 2021: Exploration Expenses Land Holding Costs Mineral Properties As at June 30, 2021 Sleeper Gold Project $ 866,932 $ 437,671 $ 26,011,976 Grassy Mountain Project 1,949,753 102,730 23,185,728 $ 2,816,685 $ 540,401 $ 49,197,704 Expenses and mineral property carrying values by material project for the year ended June 30, 2020: Exploration Expenses Land Holding Costs Mineral Properties As at June 30, 2020 Sleeper Gold Project $ 852,958 $ 423,508 $ 24,147,585 Grassy Mountain Project 3,348,180 169,470 23,185,728 $ 4,201,138 $ 592,978 $ 47,333,313

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 11. Income Taxes At June 30, 2021, the Company has net operating loss carry forwards of $38,219,334 expiring between the years 2022 and 2038 which are available to reduce future taxable income. Tax losses incurred after June 30, 2018 may be carried forward indefinitely. The tax effects of the significant components within the Company’s deferred tax asset (liability) at June 30, 2021 and 2019 are as follows: United States 2021 2020 Mineral properties $ 868,970 $ 1,206,528 Asset retirement obligation 388,425 129,186 Fixed assets 386 — Stock options 447,913 356,189 Net operating losses 11,676,822 9,933,638 $ 13,382,516 $ 10,936,166 Valuation allowance (11,333,208 ) (10,257,518 ) Mineral properties $ 2,049,308 $ (678,648 ) Net deferred tax asset $ — $ — The income tax recovery differs from the amounts computed by applying statutory tax to pre-tax losses as a result of the following: 2021 2020 Income (Loss) before taxes $ (5,903,618 ) $ (6,430,141 ) US Statutory tax rate 21.00 % 21.00 % Expected income tax (recovery) (1,239,760 ) (1,350,330 ) Non-deductible items 157 2,426 Change in estimates 1,196,349 (57,853 ) Change in valuation allowance 43,254 1,405,757 Total income taxes (recovery) $ — $ — Current tax expense (recovery) — — Deferred tax expense (recovery) — — $ — $ — The potential tax benefits of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future years. Accounting for uncertainty for Income Tax Income taxes are determined using assets and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. In addition, a valuation allowance is established to reduce any deferred tax asset for which it is determined that it is more likely than not that some portion of the deferred tax asset will not be realized. Effective July 1, 2009, the Company adopted the interpretation for accounting for uncertainty in income taxes which was an interpretation of the accounting standard accounting for income taxes. This interpretation created a single model to address accounting for uncertainty in tax positions. This interpretation clarifies the accounting for income taxes, by prescribing a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. As at June 30, 2021 and 2020, the Company’s consolidated balance sheets did not reflect a liability for uncertain tax positions, nor any accrued penalties or interest associated with income tax uncertainties. The Company is subject to income taxation at the federal and state levels. The Company is subject to US federal tax examinations for the tax years 2019 through 2021. Loss carryforwards generated or utilized in years earlier than 2019 are also subject to examination and adjustment. The Company has no income tax examinations in process.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Jun. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12. Commitments and Contingencies: Other Commitments Paramount has an agreement to acquire 44 mining claims (“Cryla Claims”) covering 589 acres located immediately to the west of the proposed Grassy Mountain site from Cryla LLC. Paramount is obligated to make annual lease payments of $40,000 per year the first two years of the lease term and $60,000 per year thereafter with an option to purchase the Cryla Claims for $560,000 at any time. The term of the agreement is 25 years. In the event Paramount exercises its option to acquire the Cryla Claims, all annual payments shall be credited against a production royalty that will be based on a prevailing price of the metals produced from the Cryla Claims. The royalty rate ranges between 2% and 4% based on the daily price of gold. The agreement with Cryla can be terminated by Paramount at any time. Paramount made the annual lease payment of $60,000 as required by the agreement during the year ended June 30, 2021. The Cryla Claims are without known mineral reserves and there is no current exploratory work being performed. Paramount has an agreement with Nevada Select Royalty (“Nevada Select”) to purchase 100% in the Frost Project, which consists of 40 mining claims located approximately 12 miles west of its Grassy Mountain Project. A total consideration of $250,000 payable to Nevada Select will be based on certain events over time. Upon signing the agreement, Paramount made a payment of $10,000 to Nevada Select. Nevada Select will retain a 2% NSR on the Frost Claims and Paramount has the right to reduce the NSR to 1% for a payment of $1 million. All required payments under the agreement due at June 30, 2021 have been paid. The Frost Claims are without known mineral reserves.

Subsequent Events

Subsequent Events	12 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Note 13. Subsequent Events Subsequent to June 30, 2021, the Company issued 2,189,521 ATM shares at an average price of $0.86 per share and for gross proceeds of approximately $1,875,521. The Company also issued 168,690 shares at a fair value price of $0.99 per share for the payment of interest accrued and owing at June 30, 2021 for its outstanding convertible debt. Subsequent to June 30, 2021, the Company entered into an option agreement with Nevada Select to purchase mining claims in the State of Nevada for a total consideration of $300,000. Payments under the agreement will based on achieving certain events over time. Upon, signing the agreement Paramount made a payment of $20,000 to Nevada Select.

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation and Preparation	Basis of Presentation and Preparation The consolidated financial statements are prepared by management in accordance with U.S. generally accepted accounting principles (‘U.S. GAAP”) and are presented in US dollars. The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions are eliminated in consolidation. The Company faces various risks related to the COVID-19 global pandemic. The Company’s primary goal during the COVID-19 pandemic is to safeguard the health of our employees, suppliers and the communities where we operate while minimizing business interruption. To date, COVID-19 pandemic has not had a material impact on our business however because of the highly uncertain and dynamic nature of events relating to the COVID-19 pandemic, it is not currently possible to predict any future impact of the COVID-19 pandemic, but these impacts could have a material adverse effect on the business, financial position, results of operations and/or cash flows. We will continue to monitor the COVID-19 situation closely. The results of operations for the year ending June 30, 2021 is not necessarily indicative of the operating results expected for any future period.
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions The Company’s functional and reporting currency is the United States dollar. Foreign denominated monetary assets and liabilities are translated into their U.S. dollar equivalents using foreign exchange rates which prevailed at the balance sheet date. Income and expenses are translated at average rates of exchange during the period. Related translation adjustments as well as gains or losses resulting from foreign currency transactions are reported as part of operating expenses on the statement of operations and comprehensive loss.
Use of Estimates	Use of Estimates The preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The recoverability of the costs incurred for the exploration and development of precious mineral properties is dependent on the ability of the Company to obtain the necessary financing to advance the projects to production, upon future profitable production or from proceeds from sale of properties or production royalties. The Company will continue to incur losses and have negative cash flows from operating activities and as such we will require additional capital to fund exploration and development programs, future property acquisitions and for general corporate purposes. If the Company is unable to obtain additional funding, we may be unable to continue operations, and amounts realized for assets may be less than amounts reflected in these consolidated financial statements. These consolidated financial statements have been prepared on the accounting principles applicable to a going concern, which assumes that the Company will realize its assets and discharge its liabilities in the normal course of business. In assessing whether the going concern assumption is appropriate, management takes into account all available information about the future, which is at least twelve months after the date that the financial statements are issued. Management has carried out an assessment of the going concern assumption and, after considering subsequent events, has concluded that the cash position of the Company is sufficient to finance continued operations for the twelve-month period after the issuance of these financial statements. Significant estimates made by management in the accompanying consolidated financial statements include the adequacy of the Company’s reclamation and environmental obligation, share based compensation, valuation of deferred tax asset, and assessment of impairment of mineral properties.
Cash and Cash Equivalents	Cash and Cash Equivalents All highly liquid investments with maturities of three months or less at the date of purchase are classified as cash and cash equivalents. The carrying amount of these securities approximates fair value because of the short-term maturity of these instruments.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of cash and cash equivalents. The Company maintains cash in accounts which may, at times, exceed federally insured limits. At June 30, 2021 and 2020, the Company had $2.81 million and $5.13 million, respectively, of balances in excess of federally insured limits. The Company deposits its cash with financial institutions which it believes have sufficient credit quality to minimize the risk of loss.
Fair Value Measurements	Fair Value Measurements The Company has adopted FASB ASC 820, Fair Value Measurements and Disclosures, which defines fair value, establishes guidelines for measuring fair value and expands disclosures regarding fair value measurements. The Company applies fair value accounting for all financial assets and liabilities and non – financial assets and liabilities that are recognized or disclosed at fair value in the consolidated financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company has adopted FASB ASC 825, Financial Instruments, which allows companies to choose to measure eligible financial instruments and certain other items at fair value that are not required to be measured at fair value. The Company has not elected the fair value option for any eligible financial instruments.
Stock Based Compensation	Stock Based Compensation The Company has adopted the provisions of FASB ASC 718, “ Stock Compensation For options with performance conditions, the Company accrues compensation if it is probable that the performance condition will be achieved and recognizes the compensation cost over the requisite service period. The requisite service period for options with performance conditions is estimated based on the analysis of the terms of the award and the specific performance conditions. The Company shall recognize the effect of forfeited awards in compensation cost when they occur. New shares of the Company’s common stock will be issued for any options exercised.
Mineral Properties	Mineral Properties Mineral property acquisition costs are capitalized when incurred and will be amortized using the units-of-production method over the estimated life of the reserve following the commencement of production. If a mineral property is subsequently abandoned or impaired, any capitalized costs will be expensed in the period of abandonment or impairment. Acquisition costs include cash consideration and the fair market value of shares issued on the acquisition of mineral properties. Net proceeds from the sale of royalties are deducted from the carrying value of the mineral properties.
Exploration Costs	Exploration Costs Exploration costs, which include maintenance, development and exploration of mineral claims, are expensed as incurred. When it is determined that a mineral deposit can be economically developed as a result of establishing proven and probable reserves, the costs incurred after such determination will be capitalized until the commencement of production and amortized over their useful lives. To date, the Company has not established the commercial feasibility of its exploration prospects; therefore, all exploration costs are being expensed.
Property and Equipment	Property and Equipment Equipment is recorded at cost less accumulated depreciation. All equipment is depreciated over its estimated useful life at the following annual rates: Computer equipment 30% declining balance Equipment 20% declining balance
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets In accordance with ASC 360, “Property, Plant, and Equipment”, the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. An impairment loss shall be recognized only if the carrying amount of a long-lived asset (asset group) is not recoverable and exceeds its fair value. The carrying amount of a long-lived asset (asset group) is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset (asset group). That assessment shall be based on the carrying amount of the asset (asset group) at the date it is tested for recoverability, whether in use or under development. An impairment loss shall be measured as the amount by which the carrying amount of a long-lived asset (asset group) exceeds its fair value.
Reclamation and Environmental Obligation	Reclamation and Environmental Obligation The Company follows the provisions of ASC 410, “Asset Retirement and Environmental Obligations”, which establishes the standards for the initial measurement and subsequent accounting for obligations associated with the sale, abandonment, or other disposal of long-lived tangible assets arising from the acquisition, construction or development and for normal operations of such assets. The fair value of a liability for an asset retirement obligation will be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. The fair value of the liability is added to the carrying amount of the associated asset. An accretion cost, representing the increase over time in the present value of the liability, is recorded each period. As reclamation work is performed or liabilities are otherwise settled, the recorded amount of the liability is reduced. Future reclamation costs are accrued based on management’s best estimate at the end of each period of the discounted costs expected to be incurred for the asset. Such costs include facilities removal, earthworks, revegetation and on-going monitoring. Changes in estimates are reflected prospectively in the period an estimate is revised.
Net Loss per Share	Net Loss per Share Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of shares outstanding during each period. Diluted loss per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the years ended June 30, 2021 and 2020, the shares of common stock equivalents related to outstanding stock options have not been included in the diluted per share calculation as they are anti-dilutive as the Company has recorded a net loss from continuing operations for each year.
Leases	Leases The Company adopted ASU No. 2016-02 Leases effective July 1, 2019. The adoption of this guidance did not have a material effect on the Company’s consolidated financial position, results of operation, cash flows and related disclosures. The Company determines if an arrangement is, or contains, a lease at the inception date. Right-of-use (“ROU”) assets related to operating leases are included in Other assets, non-current Accrued liabilities and Other long-term liabilities Operating lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. We use our estimated incremental borrowing rate in determining the present value of lease payments. Variable components of the lease payments such as maintenance costs are expensed as incurred and not included in determining the present value. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense is recognized on a straight-line basis over the lease term. In the adoption of ASU No. 2016, the Company elected the short-term lease recognition exemption. Currently, the Company does not have any leases with terms greater than 12 months.
Convertible Debt	Convertible Debt The Company reviews the terms of its convertible notes payable to determine whether to account for any portion of the proceeds towards the conversion feature. In general, when the convertible notes instrument has the following characteristics and terms no portion of the proceeds from the issuance shall be accounted for as attributable to the conversion feature: a) is convertible into common stock of the Company at a specified price at the option of holder; b) the debt is sold at a price or has value at issuance not significantly in excess of the face amount; c) an interest rate that is lower than the Company could establish for nonconvertible debt; d) an initial conversion price that is greater than the fair value of the common stock at time of issuance and; e) a conversion price that does not decrease except pursuant to antidilution provisions. When proceeds are not attributable to the conversion features of the debt, the Company records the entire amount as a liability. If the fair value option is not elected, the Company will reduce the initial carrying amount of the debt by any direct and incremental issuance costs paid to third parties that are associated with the convertible debt issuance. The Company also reviews the terms of its convertible notes payable to determine whether there are embedded derivatives, including the embedded conversion option, that are required to be bifurcated and accounted for as individual derivative financial instruments. In circumstances where convertible debt contains embedded derivatives that are required to be separated from the host contracts, the total proceeds received are first allocated to the fair value of the derivative financial instruments determined using the binomial model. The remaining proceeds, if any, are then allocated to the debenture cost contracts, usually resulting in those instruments being recorded at a discount from their principal amount. This discount is accreted over the expected life of the instruments to profit (loss) using the effective interest method. The debenture host contracts are subsequently recorded at amortized cost at each reporting date, using the effective interest method. The embedded derivatives are subsequently recorded at fair value at each reporting date, with changes in fair value recognized in profit (loss). As of June 30, 2021 and 2020, there were no embedded derivatives.
Income Taxes	Income Taxes Income taxes are determined using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. In addition, a valuation allowance is established to reduce any deferred tax asset for which it is determined that it is more likely than not that some portion of the deferred tax asset will not be realized. Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. The Company has adopted FASB ASC 740 “Income Taxes” as of its inception. Pursuant to FASB ASC 740 the Company is required to compute tax asset benefits for net operating losses carried forward. Potential benefits of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future periods; and accordingly is offset by a valuation allowance. FIN No.48 prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of tax positions taken in tax returns. To the extent interest and penalties may be assessed by taxing authorities on any underpayment of income tax, such amounts would be accrued and classified as a component of income tax expense in our Consolidated Statements of Operations and Comprehensive Loss. The Company elected this accounting policy, which is a continuation of our historical policy, in connection with our adoption of FIN 48.
Recent Accounting Guidance	In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses. The changes will be effective for the Company’s fiscal year beginning July 1, 2020. Among other things, these amendments require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The adoption of ASU No. 2016-13 did not have a significant impact on the Company's consolidated financial position, results of operations, and cash flows. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement. These changes will be effective for the Company’s fiscal year beginning July 1, 2020. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted. The adoption of ASU No. 2018-13 did not have a significant impact on the Company's consolidated financial position, results of operations, cash flows and related disclosures. In November 26, 2019, the FASB issued ASU No. 2019-11, Codification Improvements to Topic 326, Financial Instruments – Credit Losses. The changes will be effective for the Company’s fiscal year beginning July 1, 2020. The adoption of ASU No. 2019-11 did not have a significant impact on the Company's consolidated financial position, results of operations, cash flows and related disclosures. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in ASC 740 and also clarifies and amends existing guidance to improve consistent application. This guidance is effective for public entities for fiscal years beginning after December 15, 2020, and for interim periods within those fiscal years. The Company is currently evaluating the impact of implementing these changes on the Company’s consolidated financial position, operating results and cash-flows. In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which addresses the complexity of its guidance for certain financial instruments with characteristics of liabilities and equity. ASU 2020-06 removes the accounting models that require beneficial conversion features or cash conversion features associated with convertible instruments to be recognized as a separate component of equity, adds certain disclosure requirements for convertible instruments, amends the guidance for the derivatives scope exception for contracts in an entity’s own equity and simplifies the diluted earnings per share calculation for certain situations. This ASU is effective for the Company beginning on January 1, 2024. The Company is currently evaluating the impact of implementing these changes on the Company’s consolidated financial position, operating results and cash-flows. In July 2021, the FASB issued ASU No. 2021-5, Leases. These changes will be effective for fiscal years beginning after December 15, 2021. The amendments affect lessors with lease contracts that have variable lease payments that do not depend on a reference index or a rate and would have resulted in the recognition of a selling loss at lease commencement if classified as sales-type or direct financing. The Company is currently evaluating the potential impact of implementing these changes on the Company’s consolidated financial position, results of operation, cash flows and related disclosures.

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Fixed Assets	Equipment is recorded at cost less accumulated depreciation. All equipment is depreciated over its estimated useful life at the following annual rates: Computer equipment 30% declining balance Equipment 20% declining balance

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities	The following table sets forth the Company’s financial assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy. As required by ASC 820, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair Value at June 30, 2021 June 30, 2020 Assets Total Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 3,113,064 3,113,064 — — $ 5,434,081

Capital Stock (Tables)

Capital Stock (Tables)	12 Months Ended
	Jun. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Option Activity Under Stock Incentive and Compensation Plan	A summary of option activity under the Stock Incentive and Compensation Plan as of June 30, 2021 and 2020, and changes during the years ended June 30, 2021 and 2020 are presented below. Options Options Weighted Average Exercise Weighted-Average Remaining Contractual Aggregate Intrinsic ($) Outstanding at July 1, 2019 1,568,995 $ 1.50 1.95 $ — Granted 690,000 1.00 4.47 165,600 Exercised — — — — Forfeited or expired (1,015,000 ) 1.53 0.05 — Outstanding at June 30, 2020 1,243,995 $ 1.20 3.63 $ 165,600 Granted 755,000 1.13 4.44 — Exercised — — — — Forfeited or expired — — — — Outstanding at June 30, 2021 1,998,995 $ 1.17 $ 3.31 $ — Exercisable at June 30, 2021 964,997 $ 1.19 $ 3.08 $ —
Summary of Status of Non-Vested Options	A summary of the status of Paramount’s non-vested options as of June 30, 2021 and 2020 and changes during the years ended June 30, 2021 and 2020 are presented below. Non-vested Options Options Weighted- Average Value Non-vested at July 1, 2019 340,660 $ 0.79 Granted 690,000 0.38 Vested (66,668 ) 0.74 Forfeited (20,000 ) 0.74 Nonvested at June 30, 2020 943,992 $ 0.51 Granted 755,000 0.56 Vested (664,994 ) 0.50 Forfeited — — Nonvested at June 30, 2021 1,033,998 $ 0.55
Black-Scholes option valuation model
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Schedule of Fair Value of Options Calculated Using Black-Scholes Option Valuations Method	The fair value for these options was calculated using the Black-Scholes option valuations method. The weighted average assumptions used for the fiscal years ending June 30, 2021 and 2020 were as follows: 2021 2020 Weighted average risk-free interest rate 0.22 % 1.60 % Weighted-average volatility 60.00 % 61.00 % Expected dividends 0.00 0.00 Weighted average expected term (years) 5 5 Weighted average fair value $ 0.57 $ 0.39
Warrants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Warrants Exercisable into Common Stock	A summary of warrants exercisable into common stock as of June 30, 2021, and changes during years-ended June 30, 2021 and 2020 are presented below: Warrants Weighted Average Exercise Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic ($) Outstanding at July 1, 2019 1,200,000 $ 1.40 1.03 — Issued — — — — Expired — — — — Exercised — — — — Outstanding at June 30, 2020 1,200,000 $ 1.40 0.03 — Issued — — — — Expired (1,200,000) 1.40 — — Exercised — — — — Outstanding at June 30, 2021 — $ — — —

Debt (Tables)

Debt (Tables)	12 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Summary of Convertible Debt	Convertible Debt June 30, 2021 June 30, 2020 Current Non-Current Current Non-Current 2019 Secured Convertible Notes $ — $ 4,277,690 $ — $ 5,477,690 Less: unamortized discount and issuance costs — (116,188 ) — (221,462 ) $ — $ 4,161,502 $ — $ 5,256,228

Mineral Properties (Tables)

Mineral Properties (Tables)	12 Months Ended
	Jun. 30, 2021
Mineral Industries Disclosures [Abstract]
Capitalized Acquisition Costs on Mineral Properties	The Company has capitalized acquisition costs on mineral properties as follows: June 30, 2021 June 30, 2020 Sleeper $ 26,011,976 $ 24,147,585 Grassy Mountain 23,185,728 23,185,728 $ 49,197,704 $ 47,333,313

Reclamation and Environmental_2

Reclamation and Environmental Obligation (Tables)	12 Months Ended
	Jun. 30, 2021
Environmental Remediation Obligations [Abstract]
Schedule of Variables of Weighted Average	The following variables were used in the calculation for the fiscal years ending June 30, 2021 and 2020: 2021 2020 Weighted average credit adjusted risk free rate 9.89 % 9.76 % Weighted-average inflation rate 2.31 % 1.60 %
Changes to Asset Retirement Obligation	Changes to the Company’s asset retirement obligation for the Sleeper Gold Mine for the year ended June 30, 2021 are as follows: June 30, 2021 June 30, 2020 Balance at beginning of year $ 615,170 $ 965,677 Accretion 60,040 94,591 Additions and changes in estimates 1,498,950 278,181 Settlements (324,516 ) (723,279 ) Balance at end of year $ 1,849,644 $ 615,170

Other Income (Tables)

Other Income (Tables)	12 Months Ended
	Jun. 30, 2021
Other Income [Abstract]
Other Income Details	The Company’s other income details were as follows: Year Ended Year Ended 2021 2020 Re-imbursement of reclamation costs $ 324,516 $ 723,279 Leasing of water rights to third party 5,743 5,631 Total $ 330,259 $ 728,910

Segmented Information (Tables)

Segmented Information (Tables)	12 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Schedule of Expenses and Mineral Property Carrying Values by Material Project	Expenses and mineral property carrying values by material project for the year ended June 30, 2021: Exploration Expenses Land Holding Costs Mineral Properties As at June 30, 2021 Sleeper Gold Project $ 866,932 $ 437,671 $ 26,011,976 Grassy Mountain Project 1,949,753 102,730 23,185,728 $ 2,816,685 $ 540,401 $ 49,197,704 Expenses and mineral property carrying values by material project for the year ended June 30, 2020: Exploration Expenses Land Holding Costs Mineral Properties As at June 30, 2020 Sleeper Gold Project $ 852,958 $ 423,508 $ 24,147,585 Grassy Mountain Project 3,348,180 169,470 23,185,728 $ 4,201,138 $ 592,978 $ 47,333,313

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Schedule of Company's Deferred Tax Asset (Liability)	The tax effects of the significant components within the Company’s deferred tax asset (liability) at June 30, 2021 and 2019 are as follows: United States 2021 2020 Mineral properties $ 868,970 $ 1,206,528 Asset retirement obligation 388,425 129,186 Fixed assets 386 — Stock options 447,913 356,189 Net operating losses 11,676,822 9,933,638 $ 13,382,516 $ 10,936,166 Valuation allowance (11,333,208 ) (10,257,518 ) Mineral properties $ 2,049,308 $ (678,648 ) Net deferred tax asset $ — $ —
Schedule of Income Tax Recovery Differs from Amounts Computed by Applying Statutory Tax to Pre-tax Losses	The income tax recovery differs from the amounts computed by applying statutory tax to pre-tax losses as a result of the following: 2021 2020 Income (Loss) before taxes $ (5,903,618 ) $ (6,430,141 ) US Statutory tax rate 21.00 % 21.00 % Expected income tax (recovery) (1,239,760 ) (1,350,330 ) Non-deductible items 157 2,426 Change in estimates 1,196,349 (57,853 ) Change in valuation allowance 43,254 1,405,757 Total income taxes (recovery) $ — $ — Current tax expense (recovery) — — Deferred tax expense (recovery) — — $ — $ —

Description of Business and S_4

Description of Business and Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Accounting Policies [Abstract]
Concentration of credit risk uninsured cash amount	$ 2,810	$ 5,130
Cash, Uninsured Amount, Description	The Company deposits its cash with financial institutions which it believes have sufficient credit quality to minimize the risk of loss
Embedded Derivative, Fair Value of Embedded Derivative, Net	$ 0	$ 0

Description of Business and S_5

Description of Business and Summary of Significant Accounting Policies - Fixed Assets (Details)	12 Months Ended
	Jun. 30, 2021
Computer equipment
Property Plant And Equipment [Line Items]
Percentage of annual amortization rate on declining balance (in hundredths)	30.00%
Equipment
Property Plant And Equipment [Line Items]
Percentage of annual amortization rate on declining balance (in hundredths)	20.00%

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Assets and Liabilities (Details) - Fair Value, Measurements, Recurring - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 3,113,064	$ 5,434,081
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 3,113,064

Non-Cash Transactions - Additio

Non-Cash Transactions - Additional Information (Details)	3 Months Ended	12 Months Ended
	Dec. 31, 2019shares	Jun. 30, 2021USD ($)ConvertibleNoteshares	Jun. 30, 2020USD ($)shares
Nonmonetary Transaction [Line Items]
Number of shares issued	161,217	166,792	1,096,791
Amount of shares issued in exchange for services | $		$ 181,458	$ 976,144
Mineral Property
Nonmonetary Transaction [Line Items]
Number of shares issued		257,353
Fair value of shares issued | $		$ 277,941
Interest Accrued And Owing
Nonmonetary Transaction [Line Items]
Number of shares issued		362,427
Fair value of shares issued | $		$ 398,777
2019 Secured Convertible Notes
Nonmonetary Transaction [Line Items]
Capital issued for conversion of debt to common stock (in shares)		1,200,000
Number of senior secured convertible notes converted | ConvertibleNote		1,200
Ausenco
Nonmonetary Transaction [Line Items]
Number of shares issued in exchange for services		166,792	1,096,791
Amount of shares issued in exchange for services | $		$ 181,458	$ 976,144

Capital Stock - Additional Info

Capital Stock - Additional Information (Details)	3 Months Ended	12 Months Ended
	Dec. 31, 2019shares	Jun. 30, 2021USD ($)ConvertibleNote$ / sharesshares	Jun. 30, 2020USD ($)$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Capital stock, shares authorized | shares		200,000,000	50,000,000
Capital stock, par value | $ / shares		$ 0.01	$ 0.01
Aggregate number of units issued (in shares) | shares	161,217	166,792	1,096,791
Aggregate number of units issued, per unit | $ / shares		$ 1.09	$ 0.89
Capital stock, shares issued | shares		38,154,109	32,958,404
Capital stock, shares outstanding | shares		38,154,109	32,958,404
Options, Granted | shares		755,000	690,000
Stock based compensation		$ 436,777	$ 203,192
Total unrecognized compensation cost related to non-vested share based compensation		$ 143,998	$ 153,802
Expected weighted-average period of unrecognized compensation cost		9 months 10 days	1 year 18 days
Total fair values of shares vested		$ 332,835	$ 202,121
Service Condition
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock based compensation		286,096	73,509
Performance Condition
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock based compensation		$ 150,681	$ 129,683
Employees, Directors and Consultants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options, Granted | shares		755,000	690,000
2015 and 2016 Stock Incentive and Compensation Plans
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average remaining contractual term (in years), grants		5 years
2015 and 2016 Stock Incentive and Compensation Plans | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of options and shares available for grant to employees | shares		2,169,000
Mineral Property
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate number of units issued (in shares) | shares		257,353
Fair value of shares issued		$ 277,941
Interest Accrued And Owing
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate number of units issued (in shares) | shares		362,427
Fair value of shares issued		$ 398,777
Shares Average Price of $1.16
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate number of units issued (in shares) | shares		3,209,133
Aggregate number of units issued, per unit | $ / shares		$ 1.21
Share issuance costs		$ 157,979
Shares at Price of $1.04
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate number of units issued (in shares) | shares			4,807,700
Aggregate number of units issued, per unit | $ / shares			$ 1.04
Share issuance costs			$ 421,558
Proceeds from issuance of common stock and warrants			5,000,008
Net proceeds from issuance of common stock and warrants			$ 4,578,450
Shares Average Price of $1.17
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate number of units issued (in shares) | shares			372,742
Aggregate number of units issued, per unit | $ / shares			$ 1.17
Proceeds from issuance of common stock and warrants			$ 436,783
Net proceeds from issuance of common stock and warrants			312,518
Share issuance costs, including one-time transaction costs and commissions			$ 124,265
2019 Secured Convertible Notes
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Conversion of convertible notes to shares (in shares) | shares		1,200,000
Number of senior secured convertible notes converted | ConvertibleNote		1,200

Capital Stock - Summary of Warr

Capital Stock - Summary of Warrants Exercisable into Common Stock (Details) - Warrants - $ / shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Class Of Warrant Or Right [Line Items]
Warrants, Outstanding, Beginning Balance	1,200,000	1,200,000
Warrants, Expired	(1,200,000)
Warrants, Outstanding, Ending Balance		1,200,000	1,200,000
Weighted Average Exercise Price, Outstanding, Beginning Balance	$ 1.40	$ 1.40
Weighted Average Exercise Price, Expired	$ 1.40
Weighted Average Exercise Price, Outstanding, Ending Balance		$ 1.40	$ 1.40
Weighted-Average Remaining Contractual Term (Years), Outstanding	0 years	10 days	1 year 10 days

Capital Stock - Schedule of Fai

Capital Stock - Schedule of Fair Value of Options Calculated Using Black-Scholes Option Valuations Method (Details) - Black-Scholes option valuation model - $ / shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average risk-free interest rate	0.22%	1.60%
Weighted-average volatility	60.00%	61.00%
Expected dividends	$ 0	$ 0
Weighted average expected term (years)	5 years	5 years
Weighted average fair value	$ 0.57	$ 0.39

Capital Stock - Summary of Opti

Capital Stock - Summary of Option Activity Under Stock Incentive and Compensation Plan (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Shares [Abstract]
Options, Granted	755,000	690,000
Stock Options
Shares [Abstract]
Options, Outstanding, Beginning balance	1,243,995	1,568,995
Options, Granted	755,000	690,000
Options, Forfeited or expired		(1,015,000)
Options, Outstanding, Ending balance	1,998,995	1,243,995	1,568,995
Options, Exercisable at June 30, 2021	964,997
Weighted-Average Exercise Price [Abstract]
Weighted Average Exercise Price, Options, Outstanding, Beginning balance	$ 1.20	$ 1.50
Weighted Average Exercise Price, Options, Granted	1.13	1
Weighted Average Exercise Price, Options, Forfeited or expired		1.53
Weighted Average Exercise Price, Options, Outstanding, Ending balance	1.17	$ 1.20	$ 1.50
Weighted Average Exercise Price, Options, Exercisable at June 30, 2021	$ 1.19
Weighted Average Remaining Contractual Term, Options Outstanding	3 years 3 months 21 days	3 years 7 months 17 days	1 year 11 months 12 days
Weighted Average Remaining Contractual Term, Options, Granted	4 years 5 months 8 days	4 years 5 months 19 days
Weighted Average Remaining Contractual Term, Options, Forfeited or expired		18 days
Weighted Average Remaining Contractual Term, Options, Exercisable at June 30, 2021	3 years 29 days
Aggregate Intrinsic Value, Options Granted		$ 165,600
Aggregate Intrinsic Value, Options, Outstanding at June 30, 2020		$ 165,600

Capital Stock - Summary of Stat

Capital Stock - Summary of Status of Non-Vested Options (Details) - $ / shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares Roll Forward
Nonvested Options, Beginning balance	943,992	340,660
Nonvested Options, Granted	755,000	690,000
Nonvested Options, Vested	(664,994)	(66,668)
Nonvested Options, Forfeited		(20,000)
Nonvested Options, Ending balance	1,033,998	943,992
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value Abstract
Nonvested Options, Beginning balance	$ 0.51	$ 0.79
Nonvested Options, Granted	0.56	0.38
Nonvested Options, Vested	0.50	0.74
Nonvested Options, Forfeited		0.74
Nonvested Options, Ending balance	$ 0.55	$ 0.51

Debt - Summary of Convertible D

Debt - Summary of Convertible Debt (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
2019 Secured Convertible Notes	$ 4,161,502	$ 5,256,228
2019 Secured Convertible Notes
Debt Instrument [Line Items]
2019 Secured Convertible Notes	4,277,690	5,477,690
Less: unamortized discount and issuance costs	(116,188)	(221,462)
Non-Current Debt	4,161,502	$ 5,256,228
2019 Secured Convertible Notes	4,277,690
Short-term Debt	$ 4,161,502

Debt - Additional Information (

Debt - Additional Information (Details)	May 05, 2020USD ($)	Sep. 30, 2019USD ($)$ / shares	Jun. 30, 2021USD ($)ConvertibleNoteDay$ / sharesshares	Jun. 30, 2020USD ($)shares
Debt Instrument [Line Items]
Amortization of debt discount and issuance costs			$ 62,903	$ 54,421
Promissory note				35,628
Gain on forgiveness of promissory note			35,947
2023 Secured Convertible Notes
Debt Instrument [Line Items]
Principal amount of convertible notes		$ 5,478
Agreed sale price of note		975
Principal amount per notes		$ 1,000
Convertible notes due period		2023
Convertible senior notes interest rate		7.50%
Convertible note, interest payment		semi-annually
Conversion price | $ / shares		$ 1
Amortization of debt discount and issuance costs		$ 275,883	$ 62,903	$ 54,421
Amortization of debt discount interest expense term		4 years
Debt instrument, covenant description			At any point after the second anniversary of the issuance of the convertible notes, Paramount may force conversion if the share price of its common stock remains above $1.75 for 20 consecutive trading days. The convertible notes are secured by a lien on all assets of the Company and the Company is required to maintain a working capital balance of $250,000.
Convertible note, stock price trigger (in dollars per share) | $ / shares			$ 1.75
Threshold consecutive trading days for convertible debt | Day			20
Convertible note, covenant working capital			$ 250,000
Number of senior secured convertible notes converted | ConvertibleNote			1,200
Capital issued for conversion of debt to common stock (in shares) | shares			1,200,000	0
Interest expense			$ 359,253	$ 324,160
2019 Secured Convertible Notes
Debt Instrument [Line Items]
Debt instrument, Interest rate, Effective percentage		9.24%
Paycheck Protection Program
Debt Instrument [Line Items]
Promissory note	$ 35,628
Promissory note maturity period	May 3, 2022
Interest rate of promissory note	0.98%
Prepayment penalties	$ 0
Gain on forgiveness of promissory note			$ 35,947

Mineral Properties - Capitalize

Mineral Properties - Capitalized Acquisition Costs on Mineral Properties (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Mineral Properties [Line Items]
Mineral properties, net	$ 49,197,704	$ 47,333,313
Sleeper Gold Project
Mineral Properties [Line Items]
Mineral properties, net	26,011,976	24,147,585
Grassy Mountain Project
Mineral Properties [Line Items]
Mineral properties, net	$ 23,185,728	$ 23,185,728

Mineral Properties - Additional

Mineral Properties - Additional Information (Details)	3 Months Ended	12 Months Ended
	Dec. 31, 2019shares	Jun. 30, 2021USD ($)aMiningClaimshares	Jun. 30, 2020USD ($)shares
Mineral Properties [Line Items]
Change in reclamation and environmental obligation		$ 1,498,950	$ 278,181
Number of shares issued | shares	161,217	166,792	1,096,791
Purchase of mineral properties		$ 87,500
Mineral Property
Mineral Properties [Line Items]
Number of shares issued | shares		257,353
Fair value of shares issued		$ 277,941
Sleeper Gold Project | Nevada
Mineral Properties [Line Items]
Unpatented mining claims | MiningClaim		2,322
Area covered by lode mining claims | a		38,300
Change in reclamation and environmental obligation		$ 1,498,950	$ 278,181
Unpatented lode mining claims | MiningClaim		152
Purchase of mineral properties		$ 87,500
Fair value of unpatented lode mining claim		$ 365,441
Sleeper Gold Project | Nevada | Mineral Property
Mineral Properties [Line Items]
Number of shares issued | shares		257,353
Fair value of shares issued		$ 277,941
Grassy Mountain Project | Oregon
Mineral Properties [Line Items]
Federal mining claims | MiningClaim		442
Patented lode mining claims | MiningClaim		3
Area covered by mining claims | a		9,300

Reclamation and Environmental_3

Reclamation and Environmental Obligation - Additional Information (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Site Contingency [Line Items]
Commutation account and reclamation bonds	$ 533,703	$ 695,041
Reclamation and environmental obligation	1,849,644	615,170	$ 965,677
Reclamation and environmental obligation, current	310,022	154,231
Reclamation and environmental obligation, noncurrent	1,539,622	$ 460,939
Sleeper Gold Project
Site Contingency [Line Items]
Undiscounted estimate of reclamation costs	3,557,944
Sleeper Gold Project | NDEP
Site Contingency [Line Items]
Undiscounted estimate of reclamation costs	$ 1,470,000

Reclamation and Environmental_4

Reclamation and Environmental Obligation - Schedule of Variables of Weighted Average (Details)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Environmental Remediation Obligations [Abstract]
Weighted average credit adjusted risk free rate	9.89%	9.76%
Weighted-average inflation rate	2.31%	1.60%

Reclamation and Environmental_5

Reclamation and Environmental Obligation - Changes to Asset Retirement Obligation (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Asset Retirement Obligation Disclosure [Abstract]
Balance at beginning of year	$ 615,170	$ 965,677
Accretion (Note 8)	60,040	94,591
Change in reclamation and environmental obligation	1,498,950	278,181
Settlements	(324,516)	(723,279)
Balance at end of year	$ 1,849,644	$ 615,170

Other Income - Other Income Det

Other Income - Other Income Details (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Other Income [Abstract]
Re-imbursement of reclamation costs	$ 324,516	$ 723,279
Leasing of water rights to third party	5,743	5,631
Total	$ 330,259	$ 728,910

Segmented Information - Schedul

Segmented Information - Schedule of Expenses and Mineral Property Carrying Values by Material Project (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Exploration Expenses	$ 2,816,685	$ 4,201,138
Land Holding Costs	540,401	592,978
Mineral properties, net	49,197,704	47,333,313
Sleeper Gold Project
Segment Reporting Information [Line Items]
Exploration Expenses	866,932	852,958
Land Holding Costs	437,671	423,508
Mineral properties, net	26,011,976	24,147,585
Grassy Mountain Project
Segment Reporting Information [Line Items]
Exploration Expenses	1,949,753	3,348,180
Land Holding Costs	102,730	169,470
Mineral properties, net	$ 23,185,728	$ 23,185,728

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	12 Months Ended
	Jun. 30, 2021USD ($)
Operating Loss Carryforwards [Line Items]
Income tax examination year	2019 2020 2021
United States
Operating Loss Carryforwards [Line Items]
Net operating loss carry forwards	$ 38,219,334
United States | Minimum
Operating Loss Carryforwards [Line Items]
Net operating loss carry forwards expiration date	2022
United States | Maximum
Operating Loss Carryforwards [Line Items]
Net operating loss carry forwards expiration date	2038

Schedule of Company's Deferred

Schedule of Company's Deferred Tax Asset (Liability) (Details) - United States - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Operating Loss Carryforwards [Line Items]
Mineral properties	$ 868,970	$ 1,206,528
Asset retirement obligation	388,425	129,186
Fixed assets	386
Stock options	447,913	356,189
Net operating losses	11,676,822	9,933,638
Gross deferred tax assets	13,382,516	10,936,166
Valuation allowance	(11,333,208)	(10,257,518)
Mineral properties	$ 2,049,308	$ (678,648)

Schedule of Income Tax Recovery

Schedule of Income Tax Recovery Differs from Amounts Computed by Applying Statutory Tax to Pre-tax Losses (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income (Loss) before taxes	$ (5,903,618)	$ (6,430,141)
US Statutory tax rate	21.00%	21.00%
Expected income tax (recovery)	$ (1,239,760)	$ (1,350,330)
Non-deductible items	157	2,426
Change in estimates	1,196,349	(57,853)
Change in valuation allowance	$ 43,254	$ 1,405,757

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	12 Months Ended
	Jun. 30, 2021USD ($)aMiningClaim
Grassy Mountain Project
Commitments And Contingencies [Line Items]
Number of mining fields | MiningClaim	44
Area covered by mining claims | a	589
Annual lease payment, year one	$ 40,000
Annual lease payment, year two	40,000
Annual lease payment, thereafter	60,000
Option to purchase mining claims, price	$ 560,000
Term of the agreement	25 years
Annual lease payment made	$ 60,000
Grassy Mountain Project | Minimum [Member]
Commitments And Contingencies [Line Items]
Royalty rate	2.00%
Grassy Mountain Project | Maximum
Commitments And Contingencies [Line Items]
Royalty rate	4.00%
Frost Project | Nevada
Commitments And Contingencies [Line Items]
Number of mining fields | MiningClaim	40
Percentage of mining claim rights acquired	100.00%
Total consideration payable	$ 250,000
Total consideration paid	$ 10,000
Percentage of Net Smelter Royalty	2.00%
Rate of right to reduce net smelter royalty by parent	1.00%
Payment to reduce NSR by parent	$ 1,000,000

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($)	Jul. 01, 2021	Dec. 31, 2019	Jun. 30, 2021	Jun. 30, 2020
Subsequent Event [Line Items]
Aggregate number of units issued (in shares)		161,217	166,792	1,096,791
Aggregate number of units issued, per unit			$ 1.09	$ 0.89
Subsequent Event | Option Agreement | Nevada Select Royalty Inc.
Subsequent Event [Line Items]
Total consideration payable	$ 300,000
Total consideration paid	$ 20,000
Subsequent Event | Accrued Interest
Subsequent Event [Line Items]
Aggregate number of units issued (in shares)	168,690
Fair value of price per share	$ 0.99
Subsequent Event | Shares Average Price of $0.90 | ATM
Subsequent Event [Line Items]
Aggregate number of units issued (in shares)	2,189,521
Aggregate number of units issued, per unit	$ 0.86
Proceeds from issuance of equity	$ 1,875,521